EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD risks a drop below 1.0400 – UOB.

EUR/USD,D1

Pivot: 1.0473

Analysis:

While the price is below 1.0600, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0473
• Take Profit 1: 1.0400
• Take Profit 2: 1.0300

Alternative scenario:

If level 1.0600 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0600
• Take Profit 1: 1.0730
• Take Profit 2: 1.0830

Comment:

RSI shows the development of a downtrend in the medium term.